When the price is higher than the equilibrium price:
A) suppliers will reduce prices to try to clear the market
B) suppliers will increase their prices to clear the market
C) buyers will change their tastes and desire more of the good
D) more sellers will enter the market as they expect prices to go higher
Correct Answer:
Verified
Q160: Table 4-2 Q161: Graph 4-6 Q162: A shift in the supply curve is Q163: Graph 4-6 Q164: Whenever the price of a good changes Q166: Suppose that demand for black-market koala skins Q167: Suppose that demand decreases AND supply decreases.What Q168: Comparative statics involves: Q169: Suppose that the incomes of buyers in Q170: At the equilibrium price: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)comparing the old equilibrium and
A)there can still be
